The Ukraine’s Law as of 04.07.2013 № 408-VII ‘On Changes to the Tax Code of Ukraine in respect of transfer pricing rules’ came into force on 1 September 2013. In particular, the draft provides: • list of controlled transactions (transactions between rela

The Ukraine’s Law as of 04.07.2013 № 408-VII ‘On Changes to the Tax Code of Ukraine in respect of transfer pricing rules’ came into force on 1 September 2013. In particular, the draft provides: • list of controlled transactions (transactions between rela

On 14 November 2013, the U.S.A. and France signed an Intergovernmental Agreement, on the basis of a Model I template, in order to improve international tax compliance and to implement the Foreign Account Tax Compliance Act (FATCA).

The previous agreements were signed between the U.S.A. and, individually, the United Kingdom, Denmark, Mexico, Ireland, Norway, Spain and Germany.

In the beginning of November 2013 the Russian Ministry of Foreign Affairs criticized FATCA as being contrary to the principle of sovereign equality. It requires foreign credit and financial institutions to abide by US law. In particular, it is stated: “We do not intend to assume unilateral obligations and wish the tax information exchange be mutual and balanced. The Russian party strongly believes that the bilateral Russian-American agreement, which is being developed, should comply with generally accepted international norms, and ensure reliable protection for our financial institutions”.